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Political stability

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There can be no real economic growth without political stability. In an empirically-driven study, a “sample covering 169 countries, and five-year periods from 1960 to 2004”, it was empirically determined that “higher degrees of political instability are associated with lower growth rates of GDP per capita.” Here’s the record from Pakistan.

1947-1958: PM Khawaja Nazimuddin dismissed via a ‘governor-general’s coup’ and Mohammed Ali Bogra, Pakistan’s ambassador to the United States, took his place. Four governors-general and a president. Political instability and the resulting low economic growth of around 3 percent.

1958-1969: General Ayub Khan’s eleven years of political stability, a period referred to as the ‘The Golden Sixties’. Sustained political stability and the resulting high economic growth that reached 10.42 percent in 1965 and later........

© The News International

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